The Wolfberry Post! focuses on recent news and information relevant to the Permian Basin and the Wolfberry and Cline Shale formations in Texas as well as information relating to the oil and gas sector.

Thursday, May 30, 2013

Lynden Energy released their financials for the nine month period ending 3/31/13 today (click here for link). No real surprises, last three months' production was 1,037 boed. Targeting 1,000 to 1,200 boed by June 30 although completed wells may not be tied in by then. Previous guidance of 1,200 boed after royalties may not be met until July or August.

Another relevant comment, "It is the Company's objective to sell portions of its proven acreage in order to manage its working capital and to redeploy funds to its unproven acreage."

Company is still progressing with their Wolfberry project. Recent nearby wells, particularly by Pioneer, are derisking LVL acreage. Acreage in the Wolfberry and Cline shale areas are still in high demand, particularly large blocks. We wouldn't be surprised to see takeover interest in this company by year end.

Map of Lynden's Mitchell Ranch and surrounding development

Please feel free to contact us at wolfberrypost@gmail.com. Disclosure: I am long LVLEF. This blog contains stock ideas and information and does not make recommendations. The intent of this blog is to provide information for discussion and informational purposes and should not be considered to be investment advice. Please complete your own due diligence.